In possibly the most significant trust tax case since Bamford (2010), the High Court has held that the attempt to undo, by means of an “after the event” disclaimer, the tax consequences of a default distribution clause of a discretionary trust was ineffective for taxation purposes.
Tax Act
Superannuation proceeds trust: excepted income changes
The recent Tax Act amendment on excepted income of testamentary trust distributions may potentially affect superannuation proceeds trusts (“SPT”) that are structured as testamentary trusts.
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